Moody’s has lowered Wabash’s senior unsecured debt rating to Ba2, marking its third downgrade within a year as liquidity pressures and debt leverage remained elevated. The continued rating erosion reflects concerns over cash flow volatility and capital spending requirements.

Wabash leadership forecasts a 27% increase in earnings for fiscal 2026, citing planned cost controls, improved pricing on spot railcar leases and a strengthening backlog in freight transportation services.